Income Tax Rates for FY 2010-11
Income Tax Rates / Slabs for FY 2010-11 Finance minister has given the Holi gift to the tax payers of India as the Union Budget 2010 has reduced the tax liability of individual income tax payers by broadening the tax slabs. There is no change in the Basic Exemption limit, Education Cess and Income Tax rates. The new Tax rates applicable to individual tax payers for the financial year (FY) 2010-11 and assessment year (AY) 2011-12 are given below :- New Income Tax rates for Resident Senior Citizens (FY) 2010-11 Rs. 0 to Rs. 2,40,000-----------------> No Tax Rs. 2,40,001 to Rs. 5,00,000-----------------> 10% Rs. 5,00,001 to Rs. 8,00,000-----------------> 20% Above Rs. 8,00,000-----------------> 30% New Income Tax rates for Women (below the age of 65 yr) (FY) 2010-11 Rs. 0 to Rs. 1,90,000-----------------> No Tax Rs. 1,90,001 to Rs. 5,00,000-----------------> 10% Rs. 5,00,001 to Rs. 8,00,000-----------------> 20% Above Rs. 8,00,000-----------------...